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New Brunswick Mortgage Rates

Updated

Find the best current mortgage rates in New Brunswick to ensure you are getting the best deal. New Brunswick is one of Canada’s most affordable provinces for homebuyers, with average prices well below the national average.

The average home price in New Brunswick is approximately $305,000 in 2026 — among the lowest in Canada. With a straightforward 1% land transfer tax and competitive mortgage rates, New Brunswick offers excellent affordability for first-time buyers and those relocating from more expensive provinces.

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Compare Today’s Best Mortgage Rates in New Brunswick

Looking for competitive mortgage rates in New Brunswick? Below you’ll find up-to-date rates from top lenders, whether you’re buying in Moncton, Saint John, Fredericton, or anywhere else in the province.

Why Compare Mortgage Rates in New Brunswick?

Even in an affordable market, comparing rates can save you significant money. On a $305,000 home with 10% down, the difference between a 4.00% and 5.00% rate is approximately $162 per month — or over $48,000 in total interest over 25 years.

New Brunswick’s Housing Affordability

New Brunswick has seen growing interest from homebuyers, particularly remote workers:

  • Average home price: ~$305,000 — among the most affordable in Canada
  • Minimum down payment: As low as $15,250 (5%) on the average-priced home
  • Simple land transfer tax: Flat 1% of the property value
  • Growing tech sector: Moncton and Fredericton have emerging tech and IT sectors
  • Remote work appeal: Affordable housing with Maritime quality of life has attracted buyers from Ontario and BC

Types of Mortgage Rates Available

  • Fixed Mortgage Rates: Lock in your rate for predictable payments throughout your term.
  • Variable Mortgage Rates: Rates fluctuate with the prime rate. Can offer lower costs if rates decline further.
  • Open vs. Closed Mortgages: Open mortgages allow early repayment flexibility, while closed mortgages offer lower rates.

New Brunswick-Specific Lenders

Beyond national banks, New Brunswick buyers should consider:

  • UNI Financial Cooperation — Serving northern and eastern New Brunswick
  • NBCU (New Brunswick Credit Union) — Local credit union options
  • Big Five banks — All have a presence in New Brunswick’s major cities

Frequently Asked Questions

What is the average mortgage rate in New Brunswick right now? Mortgage rates change daily. Check the rate table above for the latest competitive rates available in New Brunswick.

How do New Brunswick housing costs compare to other provinces? New Brunswick is one of the most affordable provinces for homeownership, with average home prices around $305,000. The simple 1% land transfer tax keeps closing costs low. This is roughly one-third of Ontario’s average home price.

Is New Brunswick good for first-time homebuyers? Excellent. Low home prices mean smaller down payments and mortgages, making it easier to qualify. A 5% down payment on a $305,000 home is just $15,250, and CMHC insurance keeps rates competitive for high-ratio mortgages.

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